As the pandemic continues to impact black-owned businesses across the globe, some of the celebs we know and love are working to provide business owners the opportunity to keep their doors open, and Beyonce is one of them!
Through her global initiative, BeyGOOD, Beyonce has developed a program in partnership with the NAACP to provide black-owned small businesses with the capital they need to pull through the pandemic. The BeyGOOD Black-Owned Small Business Impact Fund will provide $10,000 grants to businesses in need.
“Over the last couple of months, the pandemic and outpours for justice throughout the Black community and across the country has been felt in every imaginable area of our lives, including how our local businesses continue to operate,” the NAACP said in a statement.
“The challenged of Black business owners navigating in the climate cannot be understated, as the effects of uprisings across the nation have led to many businesses being placed in dire straits due to damages and other small business needs.”
The grant applications is open to black-owned small business owners in the states of Houston, Atlanta, New York, Los Angeles, and Minneapolis. Applicants will need to provide and estimate of property damage or replacement as a result of the pandemic. According to the NAACP website, applications are due by July 18th, and recipients will be notified by the 31st.
“The NAACP is proud to partner with BeyGOOD to help strengthen small businesses and to ensure economic empowerment for Black businesses.”
The initiative is similar to that of the economic stimulus package, which includes an application for grants provided by the United States Small Business Administration. The SBA is also giving grants in the amount of $10K to business impacted by the pandemic.